Connecticut Actual Property Growth As a result of Pandemic Touts – NBC New York
What to know
- More than 16,500 new residents moved to the state in 2020, compared with a loss of 7,520 Connecticut residents in 2019
- Workers in New York, Boston, and elsewhere want to move when they are working from home
- The president of the Connecticut Association of Realtors said home prices in the state rose about 20 percent over the past year
Thousands of new residents have come to Connecticut during the coronavirus pandemic. Workers in New York, Boston, and elsewhere will want to move if they work from home, the state’s business promoters said.
More than 16,500 new residents moved into the state in 2020. Compared to a loss of 7,520 Connecticut residents in 2019, the state’s Department for Economic and Community Development announced at a news conference Tuesday.
“People are rediscovering the Connecticut lifestyle and knowing what it means to have a little more space, maybe a little back yard,” said Governor Ned Lamont. “If you think this won’t be the last time we have to be quarantined, Connecticut is not a bad place.”
Carol Christiansen, president of the Connecticut Association of Realtors, said property prices in Connecticut rose about 20 percent over the past year, with fewer homes on the market than prospective buyers.
The median sales price for single-family homes in Connecticut was an all-time high of $ 300,000 in 2020, up 15.4 percent from 2019. This emerges from a report by the Warren Group that collects real estate data across the country.
Hartford Mayor Luke Bronin said there were concerns in the cities that the migration from offices to homework could negatively impact downtown areas.
However, as businesses reassess the need to locate in places like New York City, they may be drawn to the relatively low cost of buying office space in Hartford and other Connecticut communities, he said.
“People are rediscovering the Connecticut lifestyle a little and know what it means to have a little more space, maybe a little back yard.”
Governor Ned Lamont
“One of the things you can find here in Hartford and in other Connecticut cities and the Connecticut area is a place where you can have an amazing quality of life, lower business costs and access to the best talent in the world on your doorstep” , he said.
Glendowlyn Thames, the DECD’s deputy commissioner, said the state had also seen a 9 percent increase in start-ups over the past year.
Lamont said he believes it will be these smaller companies that will take their place in Connecticut’s office towers.